Decision-Making Processes

"What if I make the wrong decision?" "What if users hate my product?" "What do I tell my manager?" Every product manager sometimes fears making decisions because our decisions have long-lasting and drastic impact on our users and the business. If you fear making a decision, the solution is 𝗡𝗢𝗧 to avoid it. Instead, it is to make the "𝗯𝗲𝘀𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲" given the knowledge, information, and experience you have. When I am in situations where I need to make a critical decision with limited information, this is what I do: 𝗚𝗮𝘁𝗵𝗲𝗿 𝗮𝘀 𝗺𝘂𝗰𝗵 𝗱𝗮𝘁𝗮 𝗮𝘀 𝗜 𝗰𝗮𝗻 I gather more information via user research, market analysis, stakeholder input, and competitive analysis. The more information I have, the better the decision. 𝗖𝗹𝗲𝗮𝗿𝗹𝘆 𝗱𝗲𝗳𝗶𝗻𝗲 𝘁𝗵𝗲 𝗽𝗿𝗼𝗯𝗹𝗲𝗺 𝗜 𝘄𝗮𝗻𝘁 𝘁𝗼 𝘀𝗼𝗹𝘃𝗲 This helps me focus on the most critical decisions. It helps me not get distracted by irrelevant/less important aspects. 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗺𝘂𝗹𝘁𝗶𝗽𝗹𝗲 𝗮𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀. I like to, first, think of multiple options. Then I weigh the pros and cons of all options using as much data and information as possible. This approach forces me to objectively think of the positive impact and compare it to the potential risks. This improves my decision quality. 𝗖𝗼𝗻𝘀𝘂𝗹𝘁 𝗼𝘁𝗵𝗲𝗿𝘀 𝘁𝗼 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲 𝗺𝘆 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴. Different perspectives expose me to ideas I wouldn't have thought of alone. These new ideas make my decision more thorough. 𝗠𝗮𝗸𝗲 𝘁𝗵𝗲 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁 𝗶𝘁 There is never a perfect time to make a decision. When I have the information I can get quickly, I go ahead and make the decision. I then document my approach, reasoning, and rationale for making the decision. This document acts as a quick reference for later and keeps improving my decision-making process. 𝗠𝗲𝗮𝘀𝘂𝗿𝗲, 𝗰𝗼𝘂𝗿𝘀𝗲 𝗰𝗼𝗿𝗿𝗲𝗰𝘁, 𝗶𝗺𝗽𝗿𝗼𝘃𝗲. Even if I make one wrong decision, that does not always mean that all future decisions will be wrong, so I stop, evaluate, measure, and improve after every decision. -- In most situations, PMs will never have the perfect information required to make the perfect decision. So, always aim to make the "best decision" based on the information you have. Data, logic, open-mindedness, and critical thinking help make the "best decision possible" in most situations. Remember: Perfection is not the goal. Progress is.

The biggest mistake in decision-making has nothing to do with the solution. It’s focusing on the answer before you've understood the real question. This creates confusion, wastes resources, and burns out your team. The fastest way to a great decision isn't speed, it's clarity. 6 steps to make better decisions every time: 1️⃣ Define the actual problem. ↳ Don't just treat the symptom. Ask "Why?" five times to find the root cause. A solution to the wrong problem is worthless. 2️⃣ Involve the right people. ↳ Get input from those who will do the work. But keep the decision-making circle small. More voices don't mean a better choice, they just mean more noise. 3️⃣ List your constraints. ↳ What are the absolute limits on time, budget, and resources? Being honest about your boundaries forces creative and realistic solutions. 4️⃣ Generate multiple options. ↳ Never fall in love with your first idea. Force yourself to come up with at least three viable paths. This simple step prevents confirmation bias. 5️⃣ Stress-test your top choice. ↳ Before you commit, ask the most important question: "If this fails, why did it fail?" Identify the weaknesses in your plan before the world does it for you. 6️⃣ Decide, commit, and communicate. ↳ A good plan executed now is better than a perfect plan next month. Make the call, empower your team to act, and clearly explain the "why" behind your decision. Stop looking for the right answer. Start by finding the right question. What's one rule you follow for making better, faster decisions?

Today marks one year since we lost Professor Ron Howard. Ron was one of the pioneers of decision analysis, a Stanford professor who shaped how thousands of people think about complex choices. His work changed my life, and it continues to change the lives of everyone I teach. Every single time I teach about decision-making, I share his framework. It's elegant, powerful, and cuts through the confusion that paralyzes so many people facing big decisions. The 3-Legged Stool Framework: Every decision has three core components, like a three-legged stool. Remove any leg, and the stool collapses. 🎯 Values (Objectives) – What actually matters to you in the outcome? Not what you think should matter, but what genuinely does. 🛣️ Alternatives (Options) – What are the different paths you could take? (If there are no options, there's no decision to be made.) 📊 Information – How does each option help you achieve your objectives? What do you know, and what do you need to find out? This framework transforms decision-making from overwhelming to manageable. I've watched leaders and individuals use this approach to gain clarity on everything from product strategy to career transitions. It works because it externalizes the chaos in your head and organizes it into something you can actually work with. Ron's legacy lives on every time someone uses this framework to make a better decision. Every time someone moves from paralysis to clarity. Every time someone realizes that good decision-making isn't about having perfect information – it's about having a clear process. I'm grateful for Ron's teachings, and I'm committed to keeping his work alive by empowering others to make decisions with confidence. What framework or tool has most shaped how you make decisions? Society of Decision Professionals (SDP) | A Great Decision Every Time #decisionanalysis #decisionmaking #decisionprofessionals

Nearly 60% of CEOs evaluate their strategic decision capability based on outcomes rather than the quality of their decision-making process (PwC). It’s easy to see why. Outcomes are tangible, measurable, and at the end of the day, they’re the bottom line. Yet, decades of research show that using smart decision processes thoroughly beats congratulating yourself on outcomes. This is because outcomes are influenced by factors outside your decision scope—like market shifts, new regulations, or good old-fashioned luck. You could have a positive result because the market suddenly changed in your favor, or because a competitor stumbled. Or, a great decision could lead to an unfavorable outcome simply because of unexpected variables—like an economic downturn or an unforeseen risk. By the way, some of the most brilliant, value-creating moves I’ve seen came after a bad misstep or unexpected event prompted exec teams with stellar decision practices to re-evaluate and take advantage of the new conditions. (Insert your favorite example from early COVID here!)  When you evaluate your strategic decisions through the lens of the quality of your decision-making process it can reveal key insights: ✨ Clarity of information: Did you gather the right data? Were there gaps in your information? ✨ Diverse perspectives: Did you get a variety of viewpoints? Did you challenge assumptions? ✨ Navigating uncertainty: What risks were identified? Did you fully explore what you were unclear about? ✨ Alignment with values and mission: Did your decisions consistently reinforce the org’s larger vision? Were the decisions aligned with your org’s core values? ✨ Flexibility and agility: Did you stay flexible to new information or changing circumstances? ✨ Room for improvement: What worked well? What changes might be made next time? Focusing on the quality of your decision-making process reveals whether your decisions are based on thorough analysis, aligned with your strategic goals, and designed to be repeatable for long-term success. What could change for your team if you started measuring success by increasing the quality of your decisions instead of waiting for the results?

𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗥𝗲𝗳𝗹𝗲𝗰𝘁𝗶𝗼𝗻: 𝗛𝗼𝘄 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗣𝗮𝘀𝘁 𝗦𝗵𝗮𝗿𝗽𝗲𝗻𝘀 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 . . . 🔷As a manager and leader, whether you're just starting out or you’ve been in the game for years, you know that the decisions you make every day can have lasting effects. But how often do you stop to reflect on how those decisions are made—especially when they don’t go as planned? 👇Before diving into your next big decision, ask yourself: ❓What past decisions didn’t turn out the way I expected? ❓Am I repeating the same approach, hoping for different results? ❓How can I use past experiences to improve my current decision-making? 💡In our rush for efficiency, we often move quickly, believing that speed will bring results. But true efficiency comes from intentional reflection—slowing down to mine the lessons hidden in past decisions, even when those decisions didn’t work out. 👉Here are some key steps you can take to improve your decision-making by learning from past experiences: 1️⃣ 𝗖𝗹𝗲𝗮𝗿𝗹𝘆 𝗱𝗲𝗳𝗶𝗻𝗲 𝘁𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝗽𝗿𝗼𝗯𝗹𝗲𝗺. Before jumping to solutions, make sure you're addressing the right issue. Don’t let assumptions or desired outcomes cloud your understanding of what’s actually at stake. 2️⃣ 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝘄𝗵𝗮𝘁’𝘀 𝗰𝗮𝘂𝘀𝗶𝗻𝗴 𝘀𝘁𝗿𝗲𝘀𝘀 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻. Stress can cloud judgment and reinforce biases. By understanding what’s triggering your stress, you can prevent it from skewing your decision-making process. 3️⃣ 𝗔𝗻𝗮𝗹𝘆𝘇𝗲 𝗽𝗮𝘀𝘁 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 𝘁𝗵𝗮𝘁 𝗱𝗶𝗱𝗻’𝘁 𝘄𝗼𝗿𝗸 𝗼𝘂𝘁. Choose a few decisions that didn’t go as planned. What went wrong? Were there warning signs you ignored? This reflection will help you avoid similar mistakes. 4️⃣ 𝗔𝗰𝗸𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝘁𝗵𝗲 𝗮𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻𝘀 𝘆𝗼𝘂 𝗺𝗮𝗱𝗲. Every decision comes with assumptions. Looking back, what assumptions led to poor outcomes? Did you rely on incomplete information, or overlook key factors? 5️⃣ 𝗔𝗽𝗽𝗹𝘆 𝘁𝗵𝗲 𝗹𝗲𝘀𝘀𝗼𝗻𝘀 𝗹𝗲𝗮𝗿𝗻𝗲𝗱 𝘁𝗼 𝘆𝗼𝘂𝗿 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻. Use what you’ve learned from past mistakes to make adjustments to your current decision. What new approaches can you take to get a better outcome? 6️⃣ 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝗮 𝗰𝗹𝗲𝗮𝗿 𝗮𝗰𝘁𝗶𝗼𝗻 𝗽𝗹𝗮𝗻. After reflecting on your past and current decision, create a strategy that addresses the lessons learned. Ensure your approach incorporates new insights to avoid repeating mistakes. 🪴Mistakes are not failures—they’re opportunities for growth. By taking the time to reflect on past decisions, you gain the insight needed to make more informed and confident choices in the future. 💫Remember, slowing down and reflecting is not a sign of inefficiency, but a strategy for long-term success. Ask yourself: 𝘈𝘮 𝘐 𝘮𝘰𝘷𝘪𝘯𝘨 𝘲𝘶𝘪𝘤𝘬𝘭𝘺 𝘫𝘶𝘴𝘵 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘴𝘢𝘬𝘦 𝘰𝘧 𝘪𝘵, 𝘰𝘳 𝘢𝘮 𝘐 𝘮𝘢𝘬𝘪𝘯𝘨 𝘵𝘩𝘰𝘶𝘨𝘩𝘵𝘧𝘶𝘭, 𝘥𝘦𝘭𝘪𝘣𝘦𝘳𝘢𝘵𝘦 𝘤𝘩𝘰𝘪𝘤𝘦𝘴?

⏳ Time & Choices: The Currency of Leadership All we get is time and choices—nothing more, nothing less. As a leader, your ability to manage both defines your success. The Power of Time & Decision-Making ✔️ Time is non-renewable – 1440 minutes per day, no more, no less. How you allocate them shapes your impact. ✔️ Decisions compound – The quality of your choices dictates your trajectory, culture, and outcomes. ✔️ The cost of indecision – Studies show that executives spend 37% of their time making decisions, yet only 61% of those decisions are effective (McKinsey). Expert Insights 📌 “The difference between successful people and really successful people is that really successful people say no to almost everything.” — Warren Buffett 📌 “Whenever you see a successful business, someone once made a courageous decision.” — Peter Drucker Data-Driven Decision Making 🔹 High-quality decisions lead to 20% higher revenue and 30% faster execution (Gartner). 🔹 Leaders who delegate effectively save 6+ hours per week, boosting strategic focus by 25% (Harvard Business Review). Your Next Move ✅ Audit how you spend your time—are you working in the business or on the business? ✅ Evaluate your decision-making process—speed + precision = impact. ✅ Commit to intentional leadership—every minute and choice must align with your vision. Be wise with both. The future of your leadership depends on it.

Bad decisions aren't just costly ⁣ ⁣ They compound over time.⁣ ⁣ The difference between happy people and everyone else isn't luck.⁣ ⁣ It's their ability to consistently make choices that align with their goals⁣. ⁣ Not their current emotions.⁣ ⁣ Here are 8 decision-making frameworks that eliminate regret:⁣ ⁣ 1: The 10-10-10 Rule⁣ ↳ Ask how you'll feel about this decision in 10 minutes, 10 months, and 10 years.⁣ ↳ This time perspective reveals if you're making an emotional or strategic choice.⁣ ⁣ 2: Values-Based Filtering⁣ ↳ Every decision should align with your core values.⁣ ↳ When your choices match your principles, regret becomes impossible.⁣ ⁣ 3: Reversable Choices⁣ ↳ Distinguish between decisions you can easily change and permanent ones.⁣ ↳ Move fast on reversible choices but take time with irreversible ones.⁣ ⁣ 4: The Regret Minimization Framework⁣ ↳ Imagine yourself at 80 years old looking back at this moment.⁣ ↳ Choose the path that minimizes regret from your future self's perspective.⁣ ⁣ 5: Opportunity Cost Analysis⁣ ↳ Every yes is a no to something else - choose the best value option.⁣ ↳ The best decisions aren't just good, they're better than all alternatives.⁣ ⁣ 6: Energy and Intuition Check⁣ ↳ Notice how your body feels when you imagine each option.⁣ ↳ Decisions that align with your authentic self create energy.⁣ ⁣ 7: Stakeholder Impact Assessment⁣ ↳ Consider how your decision affects everyone important in your life.⁣ ↳ Great decisions create value for multiple people.⁣ ⁣ 8: The Advice Test⁣ ↳ Ask what you'd tell your best friend if they were facing this exact same decision.⁣ ↳ We often give others clearer guidance than we give ourselves.⁣ ⁣ Which framework will you try?⁣ ⁣⁣⁣ 💚 Follow Hetali Mehta, MPH for more. 📌 Share this with your network.⁣⁣⁣ 👇Subscribe to my newsletter: https://lnkd.in/eFSskmyH

The 5-Minute Decision-Making Formula Used by High-Performing CEOs Top corporate leaders like Satya Nadella, Tim Cook, and Indra Nooyi don’t waste hours second-guessing every choice. They make rapid, strategic decisions with clarity and confidence. How? They follow a structured framework that minimizes overthinking while maximizing impact. Here’s how the 5-Minute Decision-Making Formula works and how you can implement it. Step 1: Define the Decision (1 Minute) Most people get stuck because they don’t define the actual decision they need to make. Be clear: • What am I deciding? • What’s the ideal outcome? • What are the stakes (high, medium, low)? Action Step: Write down the decision in one sentence. If it’s a Type 2 decision, commit to making it quickly. Step 2: Gather Key Data (2 Minutes) You don’t need all the data—just the right data. Ask: • What are the top 3-5 facts I need to know? • What does past experience tell me? • What’s the worst-case scenario if I get this wrong? Action Step: List 3 key facts or insights that will guide your choice. Ignore unnecessary details. Step 3: Apply the 80/20 Rule (1 Minute) High-performance leaders use Pareto’s Principle (80/20 Rule)—80% of results come from 20% of inputs. They ask: • What’s the one factor that matters most? • What option aligns with core goals & values? Action Step: Prioritize one deciding factor that outweighs the rest. Step 4: Trust Your Instinct + Make the Call (30 Seconds) Overthinking is the enemy of decision-making. Trust yourself. • If the decision is 70% right, take action (per Amazon’s “Disagree and Commit” principle). • If wrong, adjust later. Action Step: Make the decision. Trust it. Commit to it. Step 5: Take the First Step + Course-Correct (30 Seconds) Decisions only matter if acted upon. • What’s one action step to implement right now? • What feedback loop will I use to refine? Action Step: Set a 24-hour action step to move forward. Try this framework and see how it saves you the mental energy.

The decision framework that transformed my leadership effectiveness: (Before: Intuition-based choices. After: Structured decision process.) Even experienced leaders make poor decisions when they lack a systematic approach. My decision-making evolution: At 26: Gut-feel decisions, inconsistent results At 32: Experience-based choices, better but still variable At 35: Framework-driven process, consistently superior outcomes Three elements that transformed my approach: 1. Pre-decision preparation → Question formulation clarity → Decision criteria definition → Information gathering protocol → Stakeholder perspective collection 2. Decision execution structure → Cognitive bias mitigation → Alternative option development → Consequence mapping → Probabilistic thinking 3. Post-decision learning → Outcome documentation → Process evaluation → Feedback integration → Decision journal maintenance Since implementing this framework: My decision quality has improved dramatically My team's confidence in leadership has strengthened Our execution alignment has increased Our learning from both successes and failures has accelerated The quality of your decisions determines the quality of your results. A systematic approach consistently outperforms intuition alone. How are you structuring your decision-making process? - Want boardroom intelligence with zero noise? Every week we share curated insights that cut through the chaos and help you make the best policy decisions: Join here: https://lnkd.in/garzxSxG LION Specialty. The Leader in Institutional Insurance. 🦁

How to master quick decision-making in business (A guide): 1. Perfectionism is the enemy of progress. Don’t delay decisions waiting for the perfect solution - an imperfect decision is better than none. You can always adjust later. 2. Speed up your experiments. The faster you can learn from a decision, the quicker you can iterate and improve. 3. Consult trusted voices and reflect quietly. Your intuition, honed by experience, is a critical tool for making swift decisions. Trust it. 4. Difficult decisions require open dialogue. Whether it’s a spontaneous chat or a scheduled check-in, make sure your team feels safe to discuss challenges. 5. Recurring meetings provide a safety net. Even if not always used, they ensure decisions are made promptly rather than dragged out over weeks. 6. After gathering input, take time to reflect and journal. This process sharpens your thinking and helps refine your decisions. 7. Regular check-ins with coaches or peers help you continuously optimize strategies and keep your decision-making sharp. 8. Once you’ve made a decision, act on it immediately. Clarity without execution is wasted potential. 9. Encourage a culture where difficult issues are openly discussed. This not only strengthens decision-making but also builds trust and resilience within the team. 10. Your gut feeling, informed by experience and reflection, is often your best guide in complex situations. Hone it like a skill. 11. Keep decision-making straightforward. Complex processes slow you down - simplicity is your ally in speed. 12. Regular updates and feedback from trusted advisors help refine your approach and ensure you’re making the best decisions possible. Make the last 4 months of 2024 yours. Don’t wait - start making faster, more informed decisions today.